DOJ Cleared Paramount’s $111 Billion WBD Deal as Staff Lawyers Leaned Toward a Lawsuit
Updated
Updated · POLITICO · Jun 16
DOJ Cleared Paramount’s $111 Billion WBD Deal as Staff Lawyers Leaned Toward a Lawsuit
3 articles · Updated · POLITICO · Jun 16
Summary
Senior DOJ officials shut the Paramount-Warner Bros. Discovery antitrust probe before career lawyers could issue a recommendation, the Wall Street Journal reported, even as those staffers were leaning toward suing to block the $111 billion merger.
The department had announced June 12 that the deal would close without divestitures or other concessions, saying its evidence showed no likely harm to competition or consumers and could even increase competition.
DOJ leadership disputed the account of internal dissent, with Associate Attorney General Stanley Woodward saying no career lawyers raised such concerns through the chain of command.
Elizabeth Warren called the approval potentially a political favor, while the merger still faces state antitrust suits, EU reviews with July 7 and July 14 deadlines, and a new U.K. investigation.
Paramount and Warner expect to close by September 2026, combining CBS, Paramount Pictures and Paramount+ with HBO, CNN and Warner Bros. as the companies target more than $6 billion in cost savings.